Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1887-11-16
v,,e .pocahontas" Scheme.

On the Sd instant the GAZETTE puoilsh9u
- article announcing the Inability OF the
arrow Steamship Company TO carry out It's
r;r;nal intentions and the indications OF
failure of the enterprise. At the time 1t
yas hardly thought that the end was SO
,ear, nor was it expected that within lie"
lava ventilation of the affairs of The COM
,anv and a direct charge of fraud would be
published.
It was generally known here that the
company was financially weak, and It's re
heated failures to perform the various prom
ses made had forfeited all confidence In the
hnilding of the Pocahontas; but cltizsns
who were NEST interested snid they were
with what the company was doing;
thnt the affairs of company were private ana
the nublic had nothing to do with then; 90
INIT little has been said in the GAzsTrE LOT
some time concerning them.
For some months past damaging state
ments about the company have been re
ceiyed at this Office, but nothing DEFINITE
cculd be learned and the, reporters we're al
wsys told that it was best to do nothing that
would hsve a tendency to drive the compa-
nv away, as there was possibility mat the
shin might be built, in which event the city
would be benefited, and if it was not QUILT,
no Que here would be the worse oil. Twas ai
40 said that the company was spending some
money here, and that every dollar 80 spent
was that much more money in circulation
than would be if the company were not here.
However. the inyarieble failure of the pro
mises about starting the building of The ship
ocd other matters aroused suspicious, and
thess suspicious grew rather than dimin
ished One thing that shock Inc confidence
of MANY was the constant publication CT
articles saying that The company had never
suept dollar fer advertising, when 1t was
reported that in several instances Tho e
very articles were paid for advertisements.
This, Of course, threw dlscredit upon the
COMPANY, and, as before stated, the nuolic
became leAs aud less interested III the affair.
Recently it was published that the company
had mcrigaged all its property 10 the Farm
ers' Loan aud Trust Company, OF New York,
for one million dollars. When the deed was
taken To the clerk'a office OF the Corporation
Court to be recorded the State tax OF $1,000
could not be raised, so no record of the
trust was made. Then followed the rever-
sion of the ship yard property to Mr.. Agnew,
when every body who read the article in
the GAZETTE anent the matter said, II told
Won sou end DOW the New York Herald,
the leading paper in the country. pub!istes
an exposure of the workings Of tho Arrow
5 Steamship Company, which statements are
hard to be geiGsAyed.
The Herald expose OF the enterprise" is
very scathrg, and occupies almost an entire
pnge. 1t says:
Long and careful investigation by the
Herald proves The Arrow Steamship Com
pany one of the colossal swindlcs of the day
The story of the scheme reads like ro-
nance There is nothing in modern fiction
10 eCnal ii.
III was quietly organized on Oh extensive
basis wears ago in New York. But it did
not burst into full flsdged boom until
eighteen months ago. 1t was capitalized at
81 600 00O According to the managers
talement, lie went 1t alone for ten or ff-
Teen yeais, ard with his drawings ard mod
eIs and plausible statements had no Difficult
" in getting II opey 10 live on. He was SO
sue, easfE in humtugging the public that he
finally enlarged hls business 10 bnnco pro
portions He called board Of assistants
abous him, who, with few exceptions, enter.
ed into the s.homo with enthusiasm. A
couple Of newspaper writers. skilled in us-
Jog the pen, had no objection to taking stock
and slice OF the DIVIDENDS before they were
declared Thec wrote editorials to order
anu nc: enly got them pnt III 'ha first col
umn Of the editors pag+, but they made the
editor endorse .heiy sentiments at so much
line.
when the scheme was opened TO the
pnbl;c year ago the salt water officers
were:
"EDgireer 10 Chief and General Manager
Robert NJ. Flyer. ey.tugboat fireman and
engineer salary $1,000.
Presiden:-Timothy O'Meara, clerk 10
Custom House, s. COO.
Vice. President-T. S. Weaver, river boat
mbD, - 900.
"Treasurer-Mr. MunsoD, ex hook keeper
Dover Iron Works, 81 goo
"Secretary-WiI!iam II. C!arksor, notary
and lawyer, 81 200.
Corresponding SecretaryDav A. Cur
lis. skiiful journalist, 81 200.
Resilient Director of Shpyards at Alex
andria. Va.-Jsmes II. Connolly, expert
journalist, South American correspondent
Hondurae. suDken ship raiser, shorthand
reporter &c 50 600
Directors and Clerks-Mariin Y. B. Scar
ing. house builder, $500; G. Wood. car
penter, 81 200 James l.. Hurd, clerk WASH
ington office, 81 900, and Mr.. Gay, clerk in
Barge Office,
Every body has seen the pictures of the
Pocahontas, which were framed and sent
broadcast over the country, and printed in
nautical aud other papers in this country
and England. Connolly. the newspaper ex
pert and resident director of the company,
who had fascinated the people with wild
etories of.his travels. lives in cottage over
looking the shpya:d, awaiting the first foot
of keel to be laid Mr.. Agnew said that
Connolly had not been with the steamship
concern for three months, but investigation
showed that be had recently written editor.
ials for the papers eulogizing the Pocahontas
swindle as loudly ns ever. One of his edi-
torials congratulated tho public that the ship
was about to De built that the iron sections
had been ordered in Baltimore, snd would
be down in a few days and work begun on
ha NIT Ia n forn IF i